Mexborough & Swinton Times, November 24
THE DENABY & CADEBY MAIN COLLIERIES, LIMITED
(Incorporated under Companies Act 1862 to 1890)
SHARE CAPITAL £1,400,000
Divided into
20,000 six per cent. Cumulative Preference Shares £200,000
1,200,000 Ordinary Shares of £1 each fully paid £1,200,000.
Issue of
£800,000 SIX per cent. First Mortgage Debenture Stock
Interest Payable 5 June, 5 December
Principal redeemable by 5 December 1944 by means of a cumulative Sinking Fund of 3 per cent per annum to be applied annually by purchase on or before 22 November if the stock is obtainable at or under 10% ex interest, or by drawings after that date for redemption at 102 on the 5 December following. The first redemption to take place on 5 December, 1926.
Power is reserved to the Company to redeem all or any of the Debenture Stock outstanding at any interest date at £110 per cent subject to six months´ notice.
The Debenture Stock is secured by a first Mortgage on the present freehold property of the Company and by a floating charge on the undertaking and all the property and assets of the Company present and future, in favour of BARING BROTHERS & CO, LIMITED, the Trustees for the Debenture Stockholders.
Funds will be reserved from the proceeds of the present issue to repay £206,500, Debenture which carries no charge on the Company´s assets, but is now outstanding of the Company ranking in priority to or pari passu with the present issue shall be created except upon auctioned land (surface only) as may be required for the erection of buildings necessary for the business of the Company or on such buildings when erected.